Northam secures Global Credit Rating upgrade

By: Natasha OdendaalCreamer Media Senior Deputy Editor

CORPORATE ACTIVITY

Credit rating agency Global Credit Rating has upgraded platinum miner Northam Platinum’s long-term credit rating to A-(ZA) from BBB+(ZA) and reaffirmed Northam’s short-term credit rating at A1-(ZA), with a stable outlook. “Northam’s credit rating upgrade was achieved despite the current and ongoing challenges being faced by the mining industry, further illustrating the group’s resilience and ability to maintain a strong capital base and liquidity position,” the platinum miner said in an update to shareholders on Friday.

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